Despite a U.S. blockade and weeks of negotiations, Iran is still demanding sovereignty over the Strait of Hormuz. Russia and China are eagerly watching. Before the U.S. blockade began, Iran was giving Russian and Chinese ships preferential access through the Strait even as it charged two million dollars in tolls to some ships and blocked others out entirely. To protect their own interests, Russia and China in April vetoed a UN Security Council resolution to reopen the Strait. But the veto was not just about Hormuz: Moscow and Beijing have a bigger prize in mind 5,000 miles to the north….